Iraq borrowed $ 18 billion to close the budget deficit

Parliamentary Finance Committee revealed that, on Wednesday, the government’s agreement with the World Bank and the International Monetary Fund to borrow about $ 18 billion to bridge the fiscal deficit in the budget of 2017, noting that Iraq has not benefited from the increase in world oil prices because of the continuing financial and administrative corruption.

The committee member said Ahmed Sarhan Sarhan, in a statement I followed “our response”, “The government has agreed with the World Bank and the International Monetary Fund to borrow about $ 18 billion to fill the fiscal deficit in the current year’s budget.”

Sarhan added that “the budget approved by parliament, includes an item of government borrowing by donors to bridge the fiscal deficit.”

He added that “Iraq has not benefited from the increase in world oil prices because of the continuing financial and administrative corruption and disbursement of funds is thoughtful.

(Source: Representational)

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